For Some Products, Prices Have Been Falling

Item	% Change Last Year
TVs	-16.74%
Video Equipment	-11.91%
Computers	-8.75%
Software	-6.79%
Audio Equipment	-5.31%
Sports Equipment	-5.12%
Photographic Equipment, Supplies	-4.85%
Cell Phone Service	-3.34%
Toys	-3.15%
Clothing: Infant and Toddler	-2.58%
Audio Disks	-2.13%
Video Disks	-2.04%
Nonprescription Drugs	-1.37%
Appliances	-1.31%
Outdoor Equipment	-1.26%
Bedroom Furniture	-0.83%
Natural Gas (residential)	-0.80%
Leased Cars	-0.76%
Tools and Hardware	-0.62%
Stationery	-0.32%

Source: BLS



Despite concerns by many that inflationary pressures are building in the U.S. economy, the table above shows price changes for products that have experienced deflation over the last year (June to June). In most past periods of inflation, like the 1970s, it was usually the case that almost ALL prices were increasing. The fact that we now have a period of mixed price changes (some rising, some falling and some flat) might suggest that the concerns about inflation are somewhat misplaced and overblown.

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